TD Bank nixes First Horizon merger citing regulatory approval delays
The merger has been mutually terminated and TD Bank has agreed to fork out $200m in cash to First Horizon.
Regulation
Cartoon: Curmudgeon
A new cartoon illustrating the arbitrary approach to crypto regulation in the United States.
FinTech Futures: Top five stories of the week – 28 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Binance.US pulls out of Voyager asset acquisition citing “hostile” regulations
Binance.US cites “the hostile and uncertain regulatory climate” in the US as its reason for pulling out.
Intellect launches new open finance-based core banking platform, eMACH.ai
Intellect claims its new cloud-based platform is the largest of its kind in the world, offering 1,214 API connections.
Blockchain infrastructure platform Paxos to pull out of Canada
Customer accounts without funds will be closed on 9 May, Paxos says.
FinTech Futures: Top five stories of the week – 14 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Very Good Security names former Visa exec Chuck Yu as CEO
At Visa, Yu led teams across the business, including business development, sales, finance, and operations.
Webinar: How to power risk decisions faster than the competition
Hear from Allica Bank and tbi bank on mitigate risk, grow revenue, and improve the banking experience.
FinTech Futures: Top five stories of the week – 7 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FDIC looks to sell SVB and Signature Bank securities portfolios
The FDIC says the two portfolios are worth around $27 billion (Signature Bank) and $87 billion (SVB).
CBDCs – miracle money or new world order?
CBDCs promise much, but their cost when it comes to privacy could be dear.
US CFTC files lawsuit against Binance and CEO
The CFTC has accused Binance of “numerous violations” of the Commodity Exchange Act and CFTC regulations.
Crypto exchange OKX set to pull out of Canada citing “new regulations”
OKX says the move is “temporary and we are working with regulators to solve this issue”.
FDIC offloads non-crypto Signature Bank deposits to Flagstar Bank
The FDIC will continue to provide crypto-related deposits directly to customers.
Eastnets migrates Swift and sanctions screening infrastructure to Microsoft Azure
Eastnets is one of the first Swift bureaus to migrate its full infrastructure for the Americas to the cloud.
FinTech Futures: Top five stories of the week – 17 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Anchorage Digital to cut 20% of staff as part of “strategic realignment”
Despite a “robust and growing” business, Anchorage says the cuts are a necessary part of a “strategic realignment”.
US regulators shutter New York’s Signature Bank following SVB collapse
Signature Bank is a large lender in the cryptosphere.
US Federal Reserve sets up new specialist team to supervise crypto sector
The team will monitor the cryptosphere as regulators look to manage risk and promote innovation.
FinTech Futures: Top five stories of the week – 10 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US regtech Droit lands $23m Series B funding
The round was led by Pivot Investment Partners and UBS via its venture arm UBS Next.
Quantifind bags $23m in funding to help firms combat financial crime
Quantifind’s SaaS solutions help banks and financial institutions tackle money laundering and fraud.
Tudi taps ThetaRay for transaction monitoring solution
Through the partnership, ThetaRay will provide Tudi its Sonar transaction monitoring solution.
Should digital banking platforms be fraud prevention solutions by design?
Banks should look to use technology to not only curb financial crime but to gain a competitive advantage.
How fintechs can prepare for Dodd-Frank Section 1071 with compliance automation
Learn how to be ready for any and all consequences once the 1071 regulations hit.
FinTech Futures: Top five stories of the week – 24 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Canada’s securities regulator tightens rules for crypto exchanges
The CSA has laid out enhanced investor protection commitments it expects from exchanges operating in Canada.
Buy now, worry about it later: the future of BNPL
Buy now, pay later – is there a more apt fintech application for our times than BNPL?
Banesco USA taps AML RightSource for automated due diligence solution
Banesco will deploy AML RightSource’s Automated EDD (Enhance Due Diligence) solution.
FSB to study DeFi’s potential stability risks and vulnerabilities
The FSB states that “specific features” of DeFi may see some of its vulnerabilities “play out differently”.
Payoneer lands UK e-money licence from FCA
Payoneer secured the EMI via its subsidiary Payoneer Payment Services UK.
Solving the cybersecurity puzzle
FinTech Futures speaks to City University of London’s Raj Muttukrishnan and Crossword’s Stuart Jubb.
AI regtech WorkFusion names Arthur Mueller VP of financial crime
Mueller joins from Rabobank North America where he served as AML and sanctions officer for more than six years.
Global fintech investment drops 31% in 2022 from record 2021 high
Despite the drop, it was still the third-best year for fintech investment ever.
PayPal reportedly halts work on stablecoin offering
PayPal is hoping to get a clearer understanding of the evolving regulatory landscape, Bloomberg reports.
CFPB proposes new rule to curb excessive credit card late fees
According to CFPB estimates, excessive fees cost American families about $12 billion each year.
FinTech Futures: Top five stories of the week – 3 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Will regulated cryptocurrency become the new fiat currency?
The last year has demonstrated that the crypto market is in immediate need of significant regulatory oversight.
Why 2023 is time for us to tackle financial crime properly
The impact of financial crime continues to be severe, but 2023 could be a breakthrough year.
